CSIP Group extends venture capital fund's exit period

CSIP Group has approved the extension of the exit period for the Suzhou Industrial Park Xinyuann III Venture Capital Enterprise (Limited Partnership), a fund in which the company committed an investment not exceeding 100 million yuan, representing less than 10% of the fund’s total capital. This decision, following a proposal by the general partner and approval by two-thirds of the limited partners, extends the fund's exit period by one year.

Originally, the fund had a 7-year duration, comprising a four-year investment period and a three-year exit period. With this extension, the exit period will now be four years, making the overall fund duration eight years. The management fee structure remains unchanged, ensuring no additional costs for CSIP Group.

The company's board initially approved the investment in September 2020. This extension aims to facilitate the complete exit of all invested projects. CSIP Group emphasizes that this change is not expected to negatively impact the fund's ongoing operations and will continue to comply with information disclosure requirements.